Rhode Island 2023 Regular Session

Rhode Island Senate Bill S0676

Introduced
3/7/23  

Caption

State Funds - Restricted Receipt Accounts

Impact

The bill will significantly impact the state’s finance-related statutes, particularly concerning how various accounts manage their funds. By requiring a ten percent recovery from cash receipts, it aims to bring additional revenue into the general fund. However, it provides specific exclusions for funds that come from non-profit contributions, federal grants, and specific agency transfers related to debt service. This careful delineation is an attempt to safeguard certain funds while still enhancing overall state revenues.

Summary

Senate Bill S0676 pertains to public finance in the State of Rhode Island and focuses on the management of restricted receipt accounts. The bill proposes to amend Section 35-4-27 of the General Laws, specifically outlining the method of handling indirect cost recoveries from these accounts. Under the proposed legislation, a ten percent recovery of cash receipts will be allocated to the state’s general fund, except for certain specific exemptions laid out in the bill.

Contention

Notable points of contention arise around the amendment of restricted accounts that will not be subject to the recovery provisions. The inclusion of the Workers' Compensation Administration and funds designed to protect uninsured employers could raise concerns among various stakeholders about the implications for managing these vital funds. Critics might argue that additional requirements on recovery could burden agencies tasked with providing essential services, affecting their operational capacities and funding availability.

Companion Bills

No companion bills found.

Previously Filed As

RI H5401

State Funds - Restricted Receipt Accounts

RI H7797

State Funds - Restricted Receipt Accounts

RI S0442

Adds the workers' compensation administration fund to those restricted receipt accounts not subject to indirect cost recoveries.

RI S0584

Establishes a restricted receipt account at the DLT for hospitality industry workforce training grants, funded by an annual $50 dollar fee to be charged by RIDOH to food service establishments.

RI H5942

Establishes a restricted receipt account at the DLT for hospitality industry workforce training grants, funded by an annual $50 dollar fee to be charged by RIDOH to food service establishments.

RI H5405

Establishes a restricted receipt account for the benefit of the Rhode Island public transit authority, funded by sales taxes collected from ride-share companies, which said sales taxes would be exempt from indirect cost recovery provisions.

RI S0419

Establishes a restricted receipt account for the benefit of the Rhode Island public transit authority, funded by sales taxes collected from ride-share companies, which said sales taxes would be exempt from indirect cost recovery provisions.

RI S2862

State Funds

RI S0531

State Funds

RI S2072

Designates, for fiscal year 2025, the usage for certain funds within the immunization account.

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